Hims & Hers Health (HIMS.US) will launch a generic version of Novo Nordisk's (NVO.US) old weight loss therapy

Market IntelTuesday, Nov 5, 2024 8:40 am ET

1min read

Intellidex learned that Hims & Hers Health (HIMS.US) CEO Andrew Dudum said the company is preparing to launch a generic version of Novo Nordisk (NVO.US)’s older GLP-1 weight loss therapy liraglutide in 2025.

liraglutide is sold under the brand names Victoza and Saxenda for diabetes and obesity.

liraglutide brought the Danish drugmaker 8.3 billion Danish kroner ($1.2 billion) in revenue in the first half of 2024, down about 22% year-on-year, as it lost market exclusivity this year as part of the company’s earlier GLP-1 product portfolio.

Hims & Hers Health co-founder Dudum added: “We have identified our core suppliers for this new product and expect to complete testing and bulk validation, and confirm authenticity certificates, in the coming months.”

He made the comments during the company’s earnings call. Earlier, the California-based healthcare technology company beat Wall Street expectations for its 2024 third-quarter earnings and raised its full-year outlook, driving its stock higher in premarket trading.

Hims & Hers Health launched a combination version of Novo Nordisk’s popular weight loss therapy semaglutide, known as Wegovy, at a steep discount in May this year.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.